Ministry of Finance: News

Cabinet clears crisis-hit Lakshmi Vilas Bank's merger with DBS Bank

The Union Cabinet on Wednesday approved the amalgamation of the crisis-hit Lakshmi Vilas Bank (LVB) with DBS Bank India Ltd (DBIL), the Indian arm of Singapore's DBS Bank.

Lakshmi Vilas Bank under moratorium; withdrawals capped at Rs. 25,000

The Centre on Tuesday placed Tamil Nadu-based private sector lender Lakshmi Vilas Bank (LVB) under a moratorium for a period of one month, the Ministry of Finance said.

'Atmanirbhar' stimulus: Employment, income-tax relief for home-buyers, boost for vaccine

Union Finance Minister Nirmala Sitharaman on Thursday announced a fresh economic stimulus to spur economic growth and boost demand.

06 Nov 2020


PM projects India as investor-friendly at Virtual Global Investor Roundtable

Prime Minister Narendra Modi on Thursday chaired the Virtual Global Investor Roundtable 2020, attended by leading institutional investors from the US, Europe, Canada, Korea, Japan, Middle East, Australia, and Singapore.

Nirmala Sitharaman wanted me out of FinMin, says Ex-Finance Secretary

Former Finance Secretary Subhash Chandra Garg on Saturday blamed Finance Minister Nirmala Sitharaman for his sudden transfer from the Ministry.

Income tax return filing deadline extended till December 31

The Finance Ministry on Saturday announced that the deadline for filing income tax returns (ITRs) for the financial year (FY) 2019-20 for individual taxpayers has been extended by a month till December 31.

12 Oct 2020

Nirmala Sitharaman

Centre announces travel payout, festival advance for government employees

To aid the economy, bruised by the coronavirus pandemic, the Centre on Monday announced a few measures for government employees.

05 Oct 2020


India may have crossed coronavirus peak, claims Finance Ministry

Seven months after India imposed a strict lockdown to contain coronavirus spread, the country may have crossed the peak, the Finance Ministry said in its September report.

GC Murmu, J&K's former L-G, becomes Comptroller And Auditor General

Girish Chandra Murmu, who resigned as Lieutenant-Governor of Jammu and Kashmir on Wednesday, has been appointed as the new Comptroller and Auditor General and will succeed incumbent Rajiv Mehrishi, who turns 65 tomorrow.

30 Jul 2020

Shashi Tharoor

Much to welcome, but challenges remain: Shashi Tharoor on NEP

Congress leader Shashi Tharoor on Thursday praised the new National Education Policy (NEP) but emphasized on certain issues with the policy.

18 Jun 2020

Madhya Pradesh

Sitharaman unveils details of PM Garib Kalyan Rojgar Abhiyaan

Union Finance Minister Nirmala Sitharaman on Thursday addressed a curtain-raiser press conference to provide details on the PM Garib Kalyan Rojgar Abhiyaan.

17 May 2020

Nirmala Sitharaman

Sitharaman fifth tranche announcements: All sectors open to private firms

Union Finance Minister Nirmala Sitharaman on Sunday announced the fifth and last tranche of the Rs. 20 lakh crore economic package announced by the government to revive the economy amid the coronavirus outbreak.

16 May 2020

Space News

Private firms allowed to access ISRO facilities, explore space travel

Finance Minister Nirmala Sitharaman on Saturday announced that the government will boost private participation in the space sector.

16 May 2020

Narendra Modi

Structural reforms in 8 sectors; coal won't be government monopoly

Union Finance Minister Nirmala Sitharaman addressed the media on Saturday for the fourth consecutive day to detail the government's economic package to revive the economy.

13 May 2020

Narendra Modi

Lockdown 4.0 imminent, ball in states' court now

India, locked down since March 25, will not get any reprieve from restrictions any time soon, an announcement by Prime Minister Narendra Modi last evening confirmed.

23 Apr 2020

Dearness Allowance

Coronavirus: Installments of Dearness Allowance for government-employees put on hold

With coronavirus pandemic hurting the economy, the government said on Thursday it was holding installments of Dearness Allowance meant for Central government employees and pensioners.

26 Mar 2020


India's coronavirus cases near 700; here's all that happened today

The total number of coronavirus cases in India jumped to 694 on Thursday evening, according to the Health Ministry.

23 Mar 2020


Coronavirus: Government workers to get paid during lockdown, says FM

The Ministry of Finance on Monday announced that government workers, who have been forced to stay at home during the lockdown for coronavirus, will continue to be paid.

05 Mar 2020


Troubled Yes Bank under moratorium; withdrawals limited to Rs. 50,000

The Central government has imposed an order of moratorium on troubled private lender, Yes Bank, on Thursday as per the recommendation of the Reserve Bank of India (RBI).

18 Jan 2020

Narendra Modi

KV Kamath may join Finance Ministry, Swapan Dasgupta HRD

Prime Minister Narendra Modi's Cabinet will soon welcome new members, including technocrats who could influence major decisions.

Political parties received two-third donations through opaque electoral bonds

In 2018-19 fiscal, the coffers of seven political parties overflowed, and a large chunk of this money came through the controversial electoral bond route.

07 Jan 2020

Narendra Modi

Income Tax relief for middle class likely in Budget 2020

With the announcement of the Union Budget 2020 less than a month away, the Ministry of Finance is apparently looking into providing income tax relief to the middle class.

08 Nov 2019


#NoteBanAnniversary: Ex-finance secretary says Rs. 2,000 notes can be demonetized

Exactly three years ago, Prime Minister Narendra Modi addressed the nation and wiped off Rs. 500 and Rs. 1,000 notes, making way for new Rs. 500 and Rs. 2,000 notes.

31 Oct 2019

Jammu And Kashmir

Meet GC Murmu, the first L-G of Jammu and Kashmir

Nearly three months after the special status was withdrawn from Jammu and Kashmir, the newly-formed Union Territory got its new chief on Thursday.

In ED custody, P Chidambaram's health worsens, rushed to AIIMS

Former Finance Minister P Chidambaram, who is in Enforcement Directorate custody, was on Monday rushed to AIIMS after his health dipped.

10 Oct 2019


PMC crisis: Nirmala Sitharaman says she'll talk to RBI Governor

Finance Minister Nirmala Sitharaman met distressed customers of the crisis-hit Punjab and Maharashtra Co-operative Bank (PMC) on Thursday and assured them she will speak to Shaktikanta Das, the Governor of Reserve Bank of India (RBI), this evening.

28 Sep 2019


Deadline to link PAN with Aadhaar extended to December 31

The deadline to link Permanent Account Number (PAN) with Aadhaar has been extended by three months to December 31, 2019 according to an official notification released by the Ministry of Finance today. Earlier, this deadline was September 30.

24 Sep 2019


Your Provident Fund rate raised to 8.65% for 2018-19

On Tuesday, the Labor Ministry notified 8.65% interest rate on Employees' Provident Fund (EPF) for the 2018-19 financial year.

17 Sep 2019


Your Provident Fund interest rate increased to 8.65% for 2018-19

On Tuesday, Labor Minister Santosh Gangwar announced that over 6 crore subscribers of the Employees' Provident Fund Organization (EPFO) would receive 8.65% interest on deposits for the financial year 2018-19.

INX Media case: In message from Tihar, Chidambaram 'defends' officers

Former Finance Minister P Chidambaram, who is currently in Tihar jail, said on Monday that he doesn't want any of the officers involved in the INX Media case to be arrested as they didn't commit any wrongdoing.

Amid economic slowdown, Anurag Thakur faces embarrassment at auto event

On Friday, Minister of State for Finance Anurag Thakur addressed the slowdown in the auto industry at the Automotive Component Manufacturers Association of India (ACMA) annual summit in New Delhi.

Chidambaram faces arrest by ED as SC rejects bail plea

Thursday started on a sour note for former Finance Minister P Chidambaram as the Supreme Court rejected his plea seeking anticipatory bail in the case registered by Enforcement Directorate (ED).

29 Aug 2019

Nirmala Sitharaman

Earning Rs. 5L-10L? You might soon get income tax relief

The government should bring down income tax for those earning between Rs. 5 lakh and Rs. 10 lakh per year to 10%, a top panel has suggested.

#NewsBytesExplainer: Why is RBI giving Rs. 1.76L crore to government

Amid an economic slowdown in the country, Reserve Bank of India (RBI) stepped in to bail out Prime Minister Narendra Modi's government.

22 Jul 2019


Haven't been elected to clean toilets: Pragya Thakur tells BJP-worker

Terror accused-turned-parliamentarian, Pragya Thakur, on Sunday sparked yet another controversy when she said she hasn't been elected to "clean toilets".

05 Jul 2019


Union Budget 2019: Know what became costlier and what cheaper

Union Finance Minister Nirmala Sitharaman spoke for more than two hours in her maiden budget speech and promised a better future to countrymen.

05 Jul 2019


Union Budget 2019: 7 announcements which Nirmala Sitharaman could make

India's first full-time female finance minister, Nirmala Sitharaman, will present the Union Budget in a short while from now.

04 Jul 2019


Union Budget 2019: What India expects from Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman is all set to present her first budget on Friday, July 5.

18 Jun 2019

Narendra Modi

Crackdown on corruption: Narendra Modi fires 15 senior customs officers

Days after the Centre forcibly retired 12 senior Income Tax officials, it did the same with 15 other senior customs officials.

11 Jun 2019

Narendra Modi

Centre retires 12 senior tax officials over sexual-harassment, bribery charges

Less than two weeks after Prime Minister Narendra Modi started his second term, the Centre cracked down on corrupt officials of the Finance Ministry.